Comments on: Gold in the Face of the Fiat Fallout http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Sat, 11 Feb 2012 01:59:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Fred http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39635 Fred Fri, 20 Nov 2009 00:04:44 +0000 http://dailyreckoning.com/?p=20327#comment-39635 I want to convert my IRA to gold & I was just ready to do it except the spread with almost every broker that I have looked at is 20-30% !!!! I know the dollar is tanking & I know that my IRA will more than likely be worthless but to lose 20% right off the bat? There are also other fees for start up, maintenance, etc.. Which all seem trivial to the spread that I have to pay. That seems absurd. Am I missing something here? Any advise on this would be greatly appreciated. I want to convert my IRA to gold & I was just ready to do it except the spread with almost every broker that I have looked at is 20-30% !!!!
I know the dollar is tanking & I know that my IRA will more than likely be worthless but to lose 20% right off the bat? There are also other fees for start up, maintenance, etc.. Which all seem trivial to the spread that I have to pay. That seems absurd. Am I missing something here?

Any advise on this would be greatly appreciated.

]]> By: Bors http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39526 Bors Thu, 19 Nov 2009 15:46:16 +0000 http://dailyreckoning.com/?p=20327#comment-39526 By the way the plan is that the central banks with their governments behind them are going to confiscate your gold and pay you a pennies on the dollar and issue you a debit card because currency and gold and whatever is going to replaced by plastic that can keep track of you and what you are doing. Good luck. By the way the plan is that the central banks with their governments behind them are going to confiscate your gold and pay you a pennies on the dollar and issue you a debit card because currency and gold and whatever is going to replaced by plastic that can keep track of you and what you are doing. Good luck.

]]> By: Bors http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39520 Bors Thu, 19 Nov 2009 15:29:35 +0000 http://dailyreckoning.com/?p=20327#comment-39520 Come on everyone think about it. Gold isn't a fear trade its a sucker trade. Think about it. What is it really going to replace? Compared to paper it is difficult to move and to store and the value as in anything is what everyone agrees it is. Remember gold can be manipulated and is now and it also can be confiscated as Roosevelt did and made illegal by law and those that are in power and wish to manipulate it. On one hand you are saying the dollar is of no value because of government (Fed) manipulation but some how think that gold will not be manipulated or isn't now but someday you are going to need to trade it for something else. For what is the question. Probably for some new kind of currency and that will be manipulated also. A real rat race you are riding on. I am also glad that Mormons have been stock piling things that can be eaten. Which tells me that Mormons do not trust the government but are willing to own something that the government can control. Interesting. Come on everyone think about it. Gold isn’t a fear trade its a sucker trade. Think about it. What is it really going to replace? Compared to paper it is difficult to move and to store and the value as in anything is what everyone agrees it is. Remember gold can be manipulated and is now and it also can be confiscated as Roosevelt did and made illegal by law and those that are in power and wish to manipulate it. On one hand you are saying the dollar is of no value because of government (Fed) manipulation but some how think that gold will not be manipulated or isn’t now but someday you are going to need to trade it for something else. For what is the question. Probably for some new kind of currency and that will be manipulated also. A real rat race you are riding on. I am also glad that Mormons have been stock piling things that can be eaten. Which tells me that Mormons do not trust the government but are willing to own something that the government can control. Interesting.

]]> By: badscooter http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39439 badscooter Thu, 19 Nov 2009 05:03:44 +0000 http://dailyreckoning.com/?p=20327#comment-39439 Gold is a fear trade. That simple. And there's going to be lots of fear for a while yet. And hey, Bors, what makes you think some of us good Mormons ain't got food, too? I'm so sick of people telling me obvious things like "you can't eat gold". Duh. News flash: The US government "can't pay back its debt". This will become clear...someday. And you can take that to the bank. Like I said, a fear trade. Gold is a fear trade. That simple. And there’s going to be lots of fear for a while yet.

And hey, Bors, what makes you think some of us good Mormons ain’t got food, too? I’m so sick of people telling me obvious things like “you can’t eat gold”. Duh.

News flash: The US government “can’t pay back its debt”. This will become clear…someday. And you can take that to the bank. Like I said, a fear trade.

]]> By: seer http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39419 seer Thu, 19 Nov 2009 02:42:55 +0000 http://dailyreckoning.com/?p=20327#comment-39419 So, Bors, what good are fiat currencies? I betcha you can find way more OLD gold than you can find OLD fiat money! Gold is a decent conductor. And don't underestimate the value of shiny things- it's what made the US the US; and, really, gold does shine pretty well. As to Larry's comments... clearly clouded, must be that flag waving in front of his face that's keeping him from seeing reality. Que sera sera... Ultimately everything that's not Food, Shelter or Water is pretty prone to foolhardiness. So, Bors, what good are fiat currencies?

I betcha you can find way more OLD gold than you can find OLD fiat money!

Gold is a decent conductor. And don’t underestimate the value of shiny things- it’s what made the US the US; and, really, gold does shine pretty well.

As to Larry’s comments… clearly clouded, must be that flag waving in front of his face that’s keeping him from seeing reality. Que sera sera…

Ultimately everything that’s not Food, Shelter or Water is pretty prone to foolhardiness.

]]> By: Bors http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39404 Bors Thu, 19 Nov 2009 00:47:53 +0000 http://dailyreckoning.com/?p=20327#comment-39404 Bambingo. If you don't know the answer to your question you really haven't been paying attention. Don't worry though you are not alone. Bambingo. If you don’t know the answer to your question you really haven’t been paying attention. Don’t worry though you are not alone.

]]> By: Dee http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39339 Dee Wed, 18 Nov 2009 19:01:42 +0000 http://dailyreckoning.com/?p=20327#comment-39339 Gold and Silver is going up from now on and you can thank the Federal Reseve for devaluing your paper dollar. Watch "Fall of The Republic: The Presidency of Barack H. Obama" and "The Obama Deception" for FREE on youtube.com Tell your friends, family and neighbors to watch it. Also attend the End The Fed Rally coming up this Sunday, November 22, 2009 at your local Federal Reserve branch. Gold and Silver is going up from now on and you can thank the Federal Reseve for devaluing your paper dollar. Watch “Fall of The Republic: The Presidency of Barack H. Obama” and “The Obama Deception” for FREE on youtube.com
Tell your friends, family and neighbors to watch it. Also attend the End The Fed Rally coming up this Sunday, November 22, 2009 at your local Federal Reserve branch.

]]> By: Mike http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39321 Mike Wed, 18 Nov 2009 17:34:12 +0000 http://dailyreckoning.com/?p=20327#comment-39321 What in the world is gold good for? Copper conducts. Platinum and Magnesium..tech and scientific stuff. Wood..you know. Aluminum, yeah beer. Steel..everything. But gold is only good for jewelry and a few specialty things. It's value can't be endless, can it? I'm asking, not telling. What in the world is gold good for? Copper conducts. Platinum and Magnesium..tech and scientific stuff. Wood..you know. Aluminum, yeah beer. Steel..everything. But gold is only good for jewelry and a few specialty things. It’s value can’t be endless, can it? I’m asking, not telling.

]]> By: Bambingo http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39317 Bambingo Wed, 18 Nov 2009 16:57:00 +0000 http://dailyreckoning.com/?p=20327#comment-39317 So Bors, are you saying that it's bad to have made soaring profits in an investment because one day the price is going to down? So Bors, are you saying that it’s bad to have made soaring profits in an investment because one day the price is going to down?

]]> By: Bors http://dailyreckoning.com/gold-in-the-face-of-the-fiat-fallout/#comment-39308 Bors Wed, 18 Nov 2009 15:19:25 +0000 http://dailyreckoning.com/?p=20327#comment-39308 One of these days you gold bugs will be trying to dump that gold and the only solution you will be left with is to hammer out gold neck chains and stand on the street corners hawking them and hoping some fool will want to trade for them for something you will be able to eat. Go ahead and keep buying gold and hope you don't fall into the greater fool theory. As far as the stock market goes it is rising because of the massive liquidity out there with nowhere to go to so it keeps creating bubbles thanks to big ben and the crooks on wall street. Its all just a crap shoot. Welcome to the world of capitalgambleism. One of these days you gold bugs will be trying to dump that gold and the only solution you will be left with is to hammer out gold neck chains and stand on the street corners hawking them and hoping some fool will want to trade for them for something you will be able to eat. Go ahead and keep buying gold and hope you don’t fall into the greater fool theory. As far as the stock market goes it is rising because of the massive liquidity out there with nowhere to go to so it keeps creating bubbles thanks to big ben and the crooks on wall street. Its all just a crap shoot. Welcome to the world of capitalgambleism.

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